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Northstar Gold Corp Partners with Novamera to Develop Cam Copper Mine

Northstar Gold Corp CEO Brian Fowler joined Steve Darling from Proactive to announce a Memorandum of Understanding with Novamera to model, develop, and mine a mineral resource at the Cam Copper Mine on the Miller Copper-Gold Property. The agreement outlines terms under which Novamera will secure financing to develop the Cam Copper Project, contingent on defining and permitting an economic deposit.

This partnership will include a multi-stage program to test and extract material from the copper-rich, near-vertical Zone 2 VMS horizon. Recent drilling by Northstar, including drill hole CC03-23, has confirmed copper grades such as 14.8% over 2.45 meters, corroborating historic data on Zone 2.

Fowler emphasized that the MOU strengthens Northstar’s position in exploring and developing the Cam Copper Project. The collaboration could lead to further agreements targeting a 3-kilometer stretch of VMS copper horizons, including the high-grade Amity and Patterson Mines on the adjacent Boston property.

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Broadcast on:
03 Oct 2024
Audio Format:
other

All right. Welcome back inside our proactive newsroom and joining me now is Brian Fowler. He is the CEO of Northstar Goldcorp and Brian, it's good to have you back again. How are you? Well, thanks Steve. Hope you're doing good too. Yeah, doing very well. And last time you and I talked to you at a big announcement for the company and back again with another one, as you've signed another MOU with a company called Novamira. And this is all in relation to the camcopper mine. So I'll let you take it from there. Tell me about this company and what this means. Certainly, yeah, this morning we're very pleased to announce a company signed an MOU with Novamira, their Ontario based company that specializes in surgical mining using the diamond drill techniques that can successfully mine near surface, narrow, high-grade deposits at a fraction of the cost of conventional mining and it really simplifies permitting, it simplifies the footprint and yeah, so we're very pleased that to announce that we've come to an agreement with this MOU and yeah, so we're looking forward to it. Yeah, Brian, maybe you could talk to us about surgical mining and what that means because you mentioned there are experts in this and it's a very cost-effective but what exactly does it do and how does it work? No, Novamira is surgical mine. It's a proprietary mining process. It combines mapping, positioning, steering technologies with conventional AI and conventional drilling equipment, utilizing proprietary AI and machine learning language and it successfully exploits narrow, high-grade copper gold deposits that are typically the size of what the MOU focus is as the number two high-grade copper zone on our camp copper mine. Yeah, and you've done a little work in this particular area as well, right, Brian? That's right. Cam was a historic high-grade copper producer, actually produced direct shipping ore to Naranda in the 40s and the 50s. It was a shell, a 200-foot shaft mine and then it's going to some subsequent exploration and drilling and then more recently, NARS-star drilled four holes confirming sub-distoric grades and widths. Last November we got one intercept, 14.8% copper, we're doing a half meters but all of this work is essentially defined a 42-meter long zone that averages 10% copper over 0.85 meter true width and for about 140 meters to depth. The zone two is one of three zones that have been defined to date and all of them remain open to depth. So this small near-service high-grade zone is what NOAA-MARA intends to focus on for and might produce copper concentrate. Yeah, so Brian, what's the next steps now in all of this? What should investors expect? Well, the MOU defined by a four-stage process, it'll take between 12 to 18 months. Stage one is just a conceptual surgical mining and a desktop evaluation development of a 3D block model that's ongoing, that's near completion. Stage two will be on boots on the ground, guidance tool, calibration activities will do a lot to do some mining, permanent environmental impact assessment and I should mention that this is going to be much cheaper and quicker than conventional mining because it's just an auditory way to mine. Stage three is a initial surgical mining employing rotary drilling methods and the real kicker for this is that for north-star shareholders is that this will be financed by NOAA-MARA and they've got a number of industry contacts and access to government grant agencies that are very interested and would finance such from mining ventures. So this checks all the boxes for north-star and our shareholders and then after we do the stage three initial surgical mining of the zone two, we'll be able to evaluate the remainder. We've got under our control right in about four kilometers of prospective geology that hosting this style of mineralization. So this is something that could be sustainable and carry on for a considerable time period. Well, it's fascinating stuff. It's going to be interesting to see this unfold for sure, Brian. Thanks so much. Congratulations on the announcement and we'll talk soon, okay? You bet. Thank you, Steve. All right, Brian Fowler, the CEO of North-star Gold Corp.